Foldable Smartphone Market Faces First Decline: Samsung Under Pressure

For the first time in history, the foldable smartphone market has seen a year-over-year decline in shipments, dropping by 1% in Q3 2024. Samsung stays the dominant player, however, its market share has noticeably shrunk despite the launch of the highly anticipated Galaxy Z Fold6 and Galaxy Z Flip6 models. On the other hand, rivals like Xiaomi, Honor, Motorola, and Huawei have surged ahead, contesting Samsung with bold strategies and competitive products.

Foldable Smartphone Market Dips: Can Samsung Keep Its Throne?

The sad news for Samsung is that its latest flagship foldable phones underperformed. Reports claim that Galaxy Z Fold6 witnessed lukewarm sales and the Z Flip6 failed to match its predecessor’s popularity. This slowdown helped Samsung’s rivals to capitalize on the foldable market. For instance, Xiaomi made waves with its Mix Flip, marking the company’s first foldable launch outside China. The bold move resulted in the highest year-over-year shipment growth among all manufacturers.

Motorola introduced the Razr 50 and Razr 50 Ultra at prices under $1000. The company made foldable phones more accessible without compromising on features. Honor’s ultra-slim Magic V3 also gained significant traction for its sleek design and usability. Last but not least, Huawei dominated its home market in China with a strong lineup, including the Mate X5, Nova Flip, and the tri-fold Mate XT Ultimate.

The decline in Samsung’s shipments underscores a critical shift in the foldable segment. The rivals have been innovating and pricing their devices more competitively, resulting in mounting pressure on Samsung. Anyhow, let’s wait and watch whether Samsung can adapt to the changing dynamics in the coming quarters or if the foldable crown will pass to one of its ambitious contenders. What do you think? Do share with us in the comment section.

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